Oct 21 (Reuters) - Foreign investors stepped up purchase in
Japanese shares in the week to Oct. 15 as they took heart from a
rally on Wall Street, ahead of the upcoming quarterly earnings
results, while a drop in local COVID-19 infections added to
Foreigners bought stocks worth a net 336.81 billion yen
($2.95 billion) in the week to Oct. 15, compared with purchases
of 13.84 billion yen in the previous week, data from Japanese
Investors purchased 478.83 billion yen in cash equity
markets but sold derivatives worth a net 142.02 billion yen.
Cross-border investors also purchased a net 1.45 trillion
yen of Japanese bonds last week, finance ministry data showed.
For the July-to-Sept. quarter, corporate Japan is estimated
to post 67.5% earnings growth from a year ago, which would top
35% growth estimated for broader Asia, Refinitiv data shows.
A weaker yen against the dollar also boosted demand for
Japanese exporters, including Toyota Motor Corp. and
Sony Group. The Japanese currency sank to a more
than two-year low on Wednesday.
The Nikkei share average and the Topix index
both surged over 3% last week, which marked their first weekly
gain in four weeks.
Japanese investors purchased a net 1.2 trillion yen in
overseas bonds last week. They also bought a net 64.7 billion
yen in cross-border equities, marking a fifth straight week of
net purchase, finance ministry data showed.
($1 = 113.9900 yen)
(Reporting by Gaurav Dogra, Patturaja Murugaboopathy and Anurag
Maan; Editing by Giles Elgood)